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2017-2018 BRiDGE RFA for Expertise and Space in the Chesterfield Building

September 1, 2017

Request for Applications (RFA)

The Bioengineering Research initiative to Develop Global Entrepreneurs (BRiDGE) is made possible by a philanthropic gift to the Pratt School of Engineering and additional funds from the Pratt School of Engineering and the Department of Biomedical Engineering (BME) at Duke University.

BRiDGE engages Duke BME faculty, Pratt postdoctoral fellows and students, and Pratt School of Engineering alumni to support the launch of new Bioengineering companies (NewCos) with the goal of developing a vibrant Bioengineering entrepreneurial ecosystem.

APPLICATION DEADLINE: OCTOBER 2, 2017

Details

Intellectual expertise: training in creating business plans will be provided in partnership with Duke’s Innovation and Entrepreneurship initiative and Pratt’s Director of Engineering Entrepreneurial Ventures.

Educational program: hands-on learning via summer internship opportunities for Pratt students in the NewCos that are located in BRiDGE.

We anticipate that four to six companies will be selected during this cycle.

This initiative aims to achieve the following goals:

Accelerate the development of Bioengineering NewCos by positioning them for equity investment by venture capital and angel investors.

Increase the odds of successful commercialization by combining the scientific rigor of academic inventors with the expertise of seasoned product development mentors.

Provide a blueprint for commercialization of biomedical discoveries and technologies, and disseminate and export this model to other institutions.

Duration

Selected NewCos will enter into a 11-month license agreement for 150-500 sf of wet lab/shared equipment rooms/cubicle(s)/shared office and meeting spaces, with an option to renew for up to a total of three years.

Occupancy cost will be $46/sf per 11-month term of occupancy, paid on a monthly basis.

Renewal will be subject to an evaluation at the end of each occupancy term. Factors to be considered in renewal include:

Progress towards technological and commercial milestones

Follow-on funding

If a renewal request is rejected, companies will be notified 2 months prior to the expiration date.

Key Dates

Application submission deadline: October 2, 2017

Oral presentations: November 2017

Selection of awardees: Nov. 15, 2017

Notice of awards: Nov. 20, 2017

Occupancy date: Jan. 1, 2018

Eligibility

Applicants must be NewCo founders. Founders include holders of common stock issued prior to licensing (ie. founder’s stock) reflecting their contribution to the invention or any named contributor on an IDF licensed to the NewCo. Employees of a company who have been or will be granted stock compensation as part of their employment must meet the prior criterion in order to be considered founders.

Applicant must be the NewCo founder who satisfies one of the following requirements:

Duke faculty with a primary or secondary appointment in the Department of Biomedical Engineering

Postdoctoral fellow, graduate or undergraduate student in the Duke Pratt School of Engineering

Review Criteria

An Oversight Committee will review BRiDGE applications, and the progress made by Newco members of BRiDGE towards milestones, and will make decisions on renewal or, if necessary, termination of NewCos from BRiDGE.

The Oversight Committee will consider the following criteria when reviewing and scoring applications:

Significance: Scale of the market need being addressed, and competitive advantage

Instructions for Submitting an Application

To apply, visit http://bit.ly/myresearchproposal click on “Create New User” (or log in if you already have an account. If you forgot your password, please contact anita.grissom@duke.edu). Proposals must be submitted under the NewCo founder’s fullfilling the eligibility criteria.

Terms

Award recipients will be required to complete a brief progress report on the 8th month of each 11-month term. A template will be provided.

Selected NewCos will be encouraged to recruit at least one BME undergrad, and one MS/MEng or PhD student as summer interns for an 8-12 week duration. 1:1 matching funds will be provided for the internships by BRiDGE.

Contact information

General Questions

For questions not answered in the RFA about the proposals and the review process should be addressed to bridge@duke.edu before submission.